Silver Lining As Precious Metals Recover

Morning Report: 08:30 London

• Markets are extremely quiet this morning despite some overnight weakness from Asian markets. Stock markets are making no move to recover yesterday’s losses, while the Dollar Index is stable after reversing course yesterday.                             
         

• Silver and gold are the main movers as the precious metals rally against yesterday’s losses.

                             
                             
• Elsewhere, the Australian dollar is holding around the highs.

                                                                                   
                                                      
Coming up today:
• Coming up today we have German Ifo Business Climate at 09.00.
• This is followed by UK inflation data at 09.30 with CPI & RPI released alongside PPI data.
• From 14.00, we switch to the US for CB Consumer Confidence and New Home Sales.

Trade Idea:
• There was a mini rally after gold’s last overbought signal, but ultimate it wasn’t enough. We could get another boost here though at the 2nd time of asking.

                                 

A good way to play this is a HIGHER trade predicting that gold closes above $1325 for a potential return of 167%.

This is presented as an idea to stimulate fixed odds financial betting ideas and is not financial advice. 

Summary: